Document Type
Article
Publication Date
Fall 1991
ISSN
0043-1621
Publisher
Wayne University Law School
Language
en-US
Abstract
In his article, "The Coase Theorem: If Pigs Could Fly," Professor Daniel Posin purports to demonstrate that the Coase Theorem fails because it incorrectly accounts for opportunity costs. This short paper will demonstrate that there is a mistake in the example Posin uses to prove his assertion. Although the mistake is a small one, it completely drives his result. In fact, after correcting the mistake, Posin's example corroborates, rather than refutes, the Coase Theorem.
Recommended Citation
Stephen G. Marks,
Of Posin and Pigs, of Coase and Cost, of Profits Gained and Opportunities Lost
,
in
38
The Wayne Law Review
47
(1991).
Available at:
https://scholarship.law.bu.edu/faculty_scholarship/2815
